CryptoMediaClub
Sunday, September 14, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

SEC Vs. Kraken Lawsuit Sets Dangerous Precedent and Should Be Dismissed

23.02.2024
A A
0
129
VIEWS
ShareShare

Representatives from cryptocurrency exchange Kraken filed a motion to dismiss the lawsuit brought forth by the U.S. Securities and Exchange Commission (SEC). They contend that it exceeds the agency’s jurisdiction and sets a dangerous precedent.

Kraken Initiates Dismissal of SEC Lawsuit

Kraken’s lawyers submitted a motion in the U.S. District Court for the Northern District of California to dismiss the case opened against the company by the SEC last November.

After filing the official document, the company’s blog published a cover letter. In it, representatives accused the SEC of politically motivated litigation against the crypto exchange. They asserted that the SEC’s lawsuit stemmed from a speech delivered by Marco Santori, Kraken’s Chief Legal Officer, to the U.S. House of Representatives in May 2023. In the speech, Santori criticized the SEC’s regulatory approach to the crypto market. Kraken claims that legal threats from the agency ensued the very next day.

Kraken’s legal team argues that the lawsuit against the company could set a dangerous precedent by giving the SEC boundless authority over the crypto market. They believe that the regulator’s claims hinge on the presumption of an investment contract devoid of post-sale obligations or interaction between the issuer and the buyer. If the court proceeds with the case against Kraken, the SEC could potentially file similar lawsuits against any companies trading digital assets. Kraken’s lawyers suggest that the SEC could just as easily implicate sellers of collectible sports cards, expensive watches, or diamonds for violating securities laws.

In the motion to dismiss, Kraken’s legal representatives also petition the court to reconsider the definition of assets falling under the purview of securities and the SEC’s regulation. They highlight that the current definition employed by the regulator implies that the sale of any assets for speculative purposes constitutes securitization, a notion unsupported by the Securities Act.

Previously, lawyers of Binance and Coinbase filed similar petitions, asserting that the SEC is overreaching its regulatory authority over the crypto market.

Сообщение SEC Vs. Kraken Lawsuit Sets Dangerous Precedent and Should Be Dismissed появились сначала на CoinsPaid Media.

Share10Tweet6ShareSharePin2

Related Posts

Blockstream Issues Alert Over Fake Email Phishing Campaign Targeting Hardware Wallet Users
All news

Blockstream Issues Alert Over Fake Email Phishing Campaign Targeting Hardware Wallet Users

14.09.2025
0

Blockstream issued an urgent security alert warning users about a sophisticated phishing campaign targeting Jade hardware wallet owners through fake...

Read moreDetails
XRP Price Prediction: Why the October 18-25 SEC Deadlines Could Trigger a Breakout

XRP Price Prediction: Why the October 18-25 SEC Deadlines Could Trigger a Breakout

14.09.2025
US May Launch Strategic Bitcoin Reserve This Year, Says Galaxy Exec

US May Launch Strategic Bitcoin Reserve This Year, Says Galaxy Exec

14.09.2025
Arthur Hayes: Chasing Quick Gains in Bitcoin Is a Losing Strategy

Arthur Hayes: Chasing Quick Gains in Bitcoin Is a Losing Strategy

14.09.2025
ETF Expectations and Whale Holdings Drive Up XRP and SOL Prices, With Cloud Mining Platform Quid Miner Becoming a New Focus

ETF Expectations and Whale Holdings Drive Up XRP and SOL Prices, With Cloud Mining Platform Quid Miner Becoming a New Focus

14.09.2025
Load More
Next Post
Concerns Raised as Scam-as-a-Service Provider Registers as UK Business Entity

Concerns Raised as Scam-as-a-Service Provider Registers as UK Business Entity

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin climbs to $66,000, marking best September performance in history

Bitcoin climbs to $66,000, marking best September performance in history

12 months ago
RWAs Simplify Cross-Border Trade of Agricultural Products

RWAs Simplify Cross-Border Trade of Agricultural Products

1 year ago
Ethereum breaks above 2021 all-time high after blistering 15% rally

Ethereum breaks above 2021 all-time high after blistering 15% rally

3 weeks ago
OCBC Launches Tokenized Bonds for Company Buyers in Singapore

OCBC Launches Tokenized Bonds for Company Buyers in Singapore

8 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Arthur Hayes: Chasing Quick Gains in Bitcoin Is a Losing Strategy

ETF Expectations and Whale Holdings Drive Up XRP and SOL Prices, With Cloud Mining Platform Quid Miner Becoming a New Focus

Polymarket Targets $10B Valuation Amid Plans for US Relaunch

SAVVY MINING Has Launched a New XRP Mining Contract for XRP Enthusiasts

RI Mining Unveils Next-Gen Contracts Aligned With Microsoft AI Push to Reshape Digital Infrastructure

Analysts Debate Which Cryptocurrency to Invest In Before the Next BTC Halving and Eye MUTM’s $0.035 for Key Reasons

Trending

Blockstream Issues Alert Over Fake Email Phishing Campaign Targeting Hardware Wallet Users
All news

Blockstream Issues Alert Over Fake Email Phishing Campaign Targeting Hardware Wallet Users

14.09.2025
0

Blockstream issued an urgent security alert warning users about a sophisticated phishing campaign targeting Jade hardware wallet...

XRP Price Prediction: Why the October 18-25 SEC Deadlines Could Trigger a Breakout

XRP Price Prediction: Why the October 18-25 SEC Deadlines Could Trigger a Breakout

14.09.2025
US May Launch Strategic Bitcoin Reserve This Year, Says Galaxy Exec

US May Launch Strategic Bitcoin Reserve This Year, Says Galaxy Exec

14.09.2025
Arthur Hayes: Chasing Quick Gains in Bitcoin Is a Losing Strategy

Arthur Hayes: Chasing Quick Gains in Bitcoin Is a Losing Strategy

14.09.2025
ETF Expectations and Whale Holdings Drive Up XRP and SOL Prices, With Cloud Mining Platform Quid Miner Becoming a New Focus

ETF Expectations and Whale Holdings Drive Up XRP and SOL Prices, With Cloud Mining Platform Quid Miner Becoming a New Focus

14.09.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz